Australian Leading Index disappoints

Australian flag
This morning, the June Westpac Leading Index was released at +0.4% on month, below +0.5% expected. Official data also showed that Australia's preliminary retail sales grew 2.4% on month in June (vs +16.9% on month in May).

From a technical point of view, on a daily chart, AUD/USD is supported by an internal rising trend line and by its rising 50-day moving average (in blue). Readers may therefore consider the potential for further advance above horizontal support at 0.6920. The nearest threshold would be set at horizontal resistance at 0.7180 and a second one would be set at December 2018 top at 0.7390 in extension.

Source: TradingView, GAIN Capital

Related tags: AUD Forex Forex

Open an account in minutes

Experience award-winning platforms with fast and secure execution.

Web Trader platform

Our sophisticated web-based platform is packed with features.

Economic Calendar